What to Consider When You Buy Luxury Used Cars

Most of us want to own luxury cars but seldom have the budget to do so. A quality luxury car costs around Rs 40 to Rs 50 lakhs, which is out of the budget for most. However, owning a luxury car is now possible with the second hand luxury car dealerships that have come up. Many used car dealers are stocking up on luxury used cars which are in great condition. A luxury used car can be bought for Rs 15 to 20 lakhs, which is almost half the price of the car in the market.

From the sales figures, it is quite evident that the luxury cars segment is expanding rapidly. Sales of used luxury cars form only 5 percent of the sales of used cars. However, their growth amounts to around 35 percent which shows that they would become quite significant to the used cars market. Manufacturers of luxury cars have also realized the potential of the used car market which is why they are coming up with their own used luxury car lines. The trend was started by Mercedes Benz in 2010 when it came up with its showroom Proven Exclusivity. The feat was followed by Audi and BMW too in subsequent years. None of the vehicles sold by these used car lines are more than 5 years old and they have been refurbished completely to give them a new look. Not only do these cars look good but they have also undergone extensive checking on more than 100 different points. Warranty and free service are offered on all these car models. The warranty offered is for two years or 100,000 kilometres, whichever is lesser. However, Audi has broken the trend with its used car sales line, by offering a warranty of 2 years and unlimited kilometres. Alongside the warranty, you get roadside assistance too at any hour of the day from the service centres of these luxury car lines.

Buying used luxury cars is a lot simpler than buying an affordable line of cars. This is because these cars are mostly driven by owners and are more likely to be intact compared to affordable cars. You can be assured about the condition of drive on these cars. Getting finance for your used luxury car is also easier as banks trust borrowers who are drawing money for buying used luxury cars. They feel they are credit worthy borrowers who would pay back on time. The interest offered to such buyers is also highly competitive. For instance, to buy a regular used car, you would have to borrow the money at a steep interest rate of around 15 to 16 percent. However, for a used luxury car, you can borrow the sum for 11 percent or so.

Buying a used luxury car for Rs 20 lakhs or so makes more sense than buying a first-hand model of a Toyota Corolla Altis or Skoda Superb or other C Segment cars. You get a better quality, well maintained car for the same price. Besides, owning a luxury car also elevates your status symbol considerably.

Before buying a used luxury car, you should scan the market for the options available. Go through their specs to find out if there were any issues with them. You should read both expert and user review of the cars to approximate the maintenance costs required. Used cars generally have higher maintenance costs although if you buy the vehicle from the certified used car dealers, you can be assured of the quality.

Before buying the used luxury car, make sure you take it out for a test drive. Test driving would give you a feel of the car and help you judge your comfort level with the vehicle. Pick a route which is mostly on the highly because a car such as the Mercedes Benz or the Audi can perform well only on vast stretches of lonely roads. Accelerate and shift gears to see if the automatic gears work well. Try driving a bit on the city roads as you would be able to assess its performance in stop and go traffic. Moreover, you can go over pot holes to decide whether the bottom of the car is touching the speed breaker as there may be a chance that the suspension is shot. Various patches of the road would help you decide whether the shock absorbent of the car is well enough or not. Make sure you listen closely for noise from the engine.

The premium luxury cars are one of the best buys and you need not worry about the numbers of kilometres covered by these cars or the year of make. The engines fitted in the car are one of a kind and they would last you a lifetime. However, you should avoid buying used luxury car which was involved in an accident as it would be a risky bargain. The car may not be in the perfect shape and you may have to frequently take it to the garage for repair works.

Prior to making a down payment, make sure you go over the papers of the car. Match the chassis and engine number with the one given in the paper to ensure that the papers are valid and original. You should also check whether the insurance and taxes have been paid on time for the vehicle or not.

Online classifieds and car selling websites are a good place to buy your used luxury car from as they have a wide variety of car sales available. You can compare the different models and price brackets to decide which one suits you the best. Simply enter the name of your city and your budget and the website would find you the best model. Prior to visiting the individual or dealer, you should check up the price on the online price calculator by feeding in the specs. You will gain a leverage for bargaining with the seller once you are armed with the correct information.

Though a small business owner, Avinash Bhosale is an auto engineer and does part time auto modification. He writes about new and used cars. Get to know the price of used luxury cars in your locality.